17-10a05

Chapter 17.--CORPORATIONS

Article 10a.--FEDERAL HOME LOAN BANK MEMBERS; SAVINGS AND LOAN ASSOCIATIONS

     
17-10a05.   Same; vesting of title to property; past obligations.
When such conversion becomes effective as hereinbefore provided, all the
property of such association, both real and personal, shall immediately by
operation of law and without conveyance or transfer of any kind or
character, be vested in such converted association: Provided, however,
That such converted association shall continue responsible for all of the
obligations of the association prior to the conversion.

     
History:   L. 1935, ch. 134, § 2; May 15.